Ocean Power deploys wave-energy buoy in Spain
LONDON, Sept 23 (Reuters) - Wave-power technology firm Ocean Power Technologies (OPTT.O) said on Tuesday it had deployed its first commercial wave-power generator in Spain, providing a launch pad for possible future deals in the UK and France.
The 40 kilowatt buoy, which converts wave motion into electricity, has been deployed under contract with Iberdrola (IBE.MC) at Santona on Spain's northern coast, OPT (OPT.L) Chief Operating Officer Mark Draper said.
OPT has a tentative deal to develop nine more powerful versions of the buoy over the next year and eventually create a "PowerBuoy" farm for the Spanish utility, capable of generating enough energy to supply up to 2,500 homes annually.
"Iberdrola have always been a big wind player and they are an early mover into wave," Draper said in a telephone interview. "It still has to be finalised, but the project has been scoped out to the full nine."
Seeing the buoy in action in European waters should spur the U.S.-based company's partners, which include French energy group Total (TOTF.PA), to develop commercial wave-energy farms he said: "People love seeing things happening in the water." (Reporting by Paul Sandle; Editing by David Holmes)
